World Bank

Jiang returns to help China avoid the ‘middle income trap’

It is not easy to discover what is really happening in China’s government. There were no opinion polls before the new leaders were appointed, and certainly no public policy debates. But the blog’s careful reading of Chinese and foreign media does sug…

China’s new leaders face slowing economy, rising protests

There are two great myths in the modern world. One, as discussed yesterday, is that central banks can restore growth to SuperCycle levels. The other is that China’s economy will grow consistenly at high rates for the next decade. Both are wishful th…

5 Risks to China’s growth story

China’s economic growth has become more and more unbalanced over the past 10 years, as we discussed in chapter 6 of Boom, Gloom and the New Normal. Its domestic consumption is now only around a third of GDP, compared to 50% a decade ago. Instead, the…